While Republicans have publicly declared that they are willing to risk losing an election in order to save our nation, Mr. Obama has decided to sacrifice our nation in a blatent attempt to pander his way to a second term. After ignoring his own debt commissions recomendations in his 2012 budget and then calling for yet another debt reduction committee, the community organizer, has made clear that he plans to focus on miniscule domestic cuts limited to waste, fraud, and abuse, large cuts to defense ( odd, since this is actually one of the enumerated federal powers).At the same time he plans to spend more on unions, seniors, and other special interests and increase taxes on the wealthy to balance the budget.
The president at one point clearly and accurately defines the defecit problem;
Now, if we don’t close this deficit, now that the economy has begun to grow again, if we keep on spending more than we take in, it’s going to cause serious damage to our economy. Companies might be less likely to set up shop here in the United States of America. It could end up costing you more to take out a loan for a home or for a car, because if people keep on having to finance America’s debt, at a certain point they’re going to start charging higher interest rates. We won’t be able to afford investments in education or clean energy, or all the things that we care about because we know it’ll help drive our economy and create jobs.
Apparently, he is not retaining what he reads off the teleprompter and he fails to realize that serious cuts cannot wait until after the election as he outlined his impotent plan to reduce our debt.
So what my plan does is it starts with combing the budget for savings wherever we can find it. [skip] I’m not going to quit until we’ve found every single dime of waste and misspent money. We don’t have enough money to waste it right now.[skip] But finding savings in our domestic spending only gets you so far. We’re also going to have to find savings in places like the defense budget.[skip] So we’ve begun to cut those out. And Secretary Gates has found a lot of waste like that and has been able to save us $400 billion so far. I believe we can do that again. Four hundred billion dollars — even in Washington, that’s real money.[skip]And we’ve also got to end tax cuts for the wealthiest Americans
I should add the president also cites impending savings from Obamacare, but nobody seriously believes that this legislation (which double counts the $480 million medicare cuts) will reduce our deficit so I left it out to spare him from further ridicule. His refusal to seriously cut spending recently prompted the S & P outlook downgrade to negative. The notion that he can continue to
invest spend to pander his way to the White House and make up for it by taxing the rich is laughable.
I believe that people who have been really blessed in this society like me and have a very, very, very good income can afford to pay a little bit more — nothing crazy, just go back to the rates that existed when Bill Clinton was President. That wasn’t that long ago — (applause) — that that’s a fair thing to do, especially if it makes sure that seniors are still getting their Medicare and kids are still going to Head Start. Why wouldn’t I want to make that sacrifice?
Reverting back to the Clinton taxrates would add $100 Billion revenue. When you consider that Obama’s annual deficit is 1.6 trillion any 4th grader can see the numbers do not add up!